The Daily Startup: Credible Raises $10 Million for Student-Loan Marektplace

dailystartup_D_20090806101628.jpgArt by Mike Lucas

Credible Labs Inc., a company that wants to make it easier for students to obtain or refinance loans, has raised $10 million in new funding from venture investors and leaders in the alternative-lending industry, Lora Kolodny reports for Dow Jones VentureWire. The company’s website  lists rates and loan offers from financial services firms that run the gamut from traditional banks, credit unions and peer-to-peer lending platforms. The new funding included existing investors Carthona Group and Redbus Group. New investors included Soul Htite, the founder and chief executive of and co-founder of Lending Club Corp.; Prosper President Ron Suber; and Scott Langmack, chairman of Purisima West Funds and board member at

ALSO IN TODAY’S VENTUREWIRE (subscription required):

Thumbtack Inc. has raised $125 million in a Series E round that values that company at $1.3 billion. Baillie Gifford the round, joined by earlier backers Tiger Global Management, Google Capital , Sequoia Capital and Javelin Venture Partners.

Therachon, a startup seeking to treat the most common form of dwarfism, has raised $35 million from four investors with a history of funding treatments for rare diseases. OrbiMed Advisors led the Series A round, which also included new backer New Enterprise Associates. Inserm Transfert Initiative and Versant Ventures, which seeded Therachon, also participated.

People Power Inc. has raised $4.4 million for technology that imbues Internet-connected devices with “smart” features and functionality, such as turning a Web-connected camera into a home-monitoring device. MediaTek Inc. led the Series B round.

Precision NanoSystems Inc., a nanomedicine company, has completed a $13.4 million Series A financing. The investment was led by 5AM Ventures and Telegraph Hill Partners, with additional participants including Rising Tide Fund and individuals.

Norse Corp., a cybersecurity company, has raised $11.4 million in a funding round led by KPMG Capital, an investment firm affiliated with professional-services firm KPMG.

LLamasoft Inc., a supply-chain software developer, has received $50 million from Goldman Sachs & Co.

(VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit, scroll to the bottom and click “try for free.”)


Payments Company Adyen Valued at $2.3 Billion in New Funding. Payments startup Adyen BV has raised new funding that values the company at $2.3 billion, The Wall Street Journal’s Lizette Chapman reports. The company was valued nine months ago at $1.5 million. Iconiq Capital led the new funding round.

Funding Deal Values Avant at Nearly $2 Billion. Online lender Avant Inc. has raised $325 million in a funding round that values the Chicago-based company at nearly $2 billion, the WSJ’s Peter Rudegeair and Telis Demos report. The company seeks borrowers with lower credit scores, including subprime borrowers. Private-equity firm General Atlantic led the funding round. Existing investors in the company include Tiger Global Management, August Capital, Victory Park Capital, DFJ Growth, RRE Ventures, KKR and individual investor Peter Thiel.

Workable Raises $27 Million to Help Small Businesses Compete for Talent. In a bid to help small- and midsize businesses sort through applicants to find the best candidates, Workable Technology Ltd. has raised $27 million in Series B funding, the WSJ’s Lora Kolodny reports. Balderton Capital led the Series B investment in Workable joined by 83North and Notion Capital.

AppDynamics Names David Wadhwani CEO. AppDynamcis Inc., which sells software and services that monitor the performance of networked applications, has named David Wadhwani as chief executive, the WSJ’s Shira Ovide reports. Mr. Wadhwani previously worked as senior vice president of digital media at Adobe Systems Inc. Jyoti Bansal, who founded AppDynamics in 2008 and has been the CEO since then, will become executive chairman and chief strategist at the company.

Write to Mike Billings at Follow him on Twitter at @mbillings